Rep. Lloyd Doggett Purchases Shares of The Coca-Cola Company (NYSE:KO)

Representative Lloyd Doggett (D-Texas) recently bought shares of The Coca-Cola Company (NYSE:KO). In a filing disclosed on November 05th, the Representative disclosed that they had bought between $1,001 and $15,000 in Coca-Cola stock on October 1st.

Representative Lloyd Doggett also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of PPG Industries (NYSE:PPG) on 9/12/2024.
• Purchased $1,001 – $15,000 in shares of Home Depot (NYSE:HD) on 9/12/2024.
• Purchased $1,001 – $15,000 in shares of Johnson & Johnson (NYSE:JNJ) on 9/10/2024.
• Purchased $1,001 – $15,000 in shares of International Business Machines (NYSE:IBM) on 9/10/2024.
• Purchased $1,001 – $15,000 in shares of Procter & Gamble (NYSE:PG) on 8/15/2024.

Coca-Cola Stock Performance

Shares of KO opened at $63.68 on Thursday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The Coca-Cola Company has a one year low of $56.06 and a one year high of $73.53. The company has a 50-day simple moving average of $69.90 and a two-hundred day simple moving average of $66.43. The firm has a market capitalization of $274.30 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 3.96 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same period last year, the business posted $0.74 earnings per share. Coca-Cola’s quarterly revenue was down .8% compared to the same quarter last year. On average, analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.05%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Institutional Investors Weigh In On Coca-Cola

A number of large investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC boosted its stake in shares of Coca-Cola by 3.8% during the 1st quarter. Jennison Associates LLC now owns 47,562 shares of the company’s stock worth $2,910,000 after acquiring an additional 1,746 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Coca-Cola during the 1st quarter worth $1,253,000. Callan Capital LLC boosted its stake in shares of Coca-Cola by 33.2% during the 1st quarter. Callan Capital LLC now owns 5,054 shares of the company’s stock worth $309,000 after acquiring an additional 1,261 shares during the last quarter. Richardson Financial Services Inc. boosted its stake in shares of Coca-Cola by 4.8% during the 1st quarter. Richardson Financial Services Inc. now owns 3,697 shares of the company’s stock worth $226,000 after acquiring an additional 170 shares during the last quarter. Finally, Team Hewins LLC lifted its stake in shares of Coca-Cola by 1.9% during the 1st quarter. Team Hewins LLC now owns 16,741 shares of the company’s stock valued at $1,032,000 after buying an additional 317 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on KO. Truist Financial raised their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. raised their target price on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. TD Cowen raised their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Wells Fargo & Company raised their target price on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $71.80.

Insider Buying and Selling

In related news, EVP Lisa Chang sold 40,334 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the completion of the transaction, the executive vice president now owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO James Quincey sold 42,397 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $70.02, for a total value of $2,968,637.94. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Lisa Chang sold 40,334 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the transaction, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at $5,150,619.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 203,748 shares of company stock valued at $14,274,431. Company insiders own 0.97% of the company’s stock.

About Representative DOGGETT

Lloyd Doggett (Democratic Party) is a member of the U.S. House, representing Texas’ 37th Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. Doggett (Democratic Party) is running for re-election to the U.S. House to represent Texas’ 37th Congressional District. He declared candidacy for the Democratic primary scheduled on March 5, 2024. In the 116th Congress, Doggett served on the House Ways & Means Committee, and he co-founded the House Prescription Drug Taskforce. Doggett began his political career in the Texas State Senate, where he served from 1973 to 1985. He then served as a member of the Texas Supreme Court from 1989 until 1994. He represented Texas’ 25th Congressional District from 2005 to 2013 and Texas’ 10th Congressional District from 1995 to 2005. As of a 2014 analysis of multiple outside rankings, Doggett is an average Democratic member of Congress, meaning he will vote with the Democratic Party on the majority of bills. Lloyd Doggett was born in Austin, Texas. Doggett graduated from Austin High School in 1964. He earned a B.A. from the University of Texas at Austin in 1967 and a J.D. from the University of Texas in 1970. Doggett’s career experience includes working as an adjunct professor with the University of Texas School of Law.

Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.